Implementation of stringent government regulations in the developed regions toward conservation of environment fuels the growth of the global pest control market.
The global pest control market was estimated at $20.6 billion in 2019 and is expected to hit $30.0 billion by 2027, registering a CAGR of 5.2% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Eswara Prasad, a Manager, Materials & Chemicals at Allied Market Research, stated, “Increase in urbanization coupled with exponential growth of population and change in climatic conditions has enhanced the demand of the market. The global pest control market is witnessing significant growth across the globe, owing to rise in economic activity, increase in urbanization, and upsurge in population. Rise in urbanization and population growth increase garbage generation and concentration as well as trade and travel. These factors facilitate the spread of pests, and are considered as the primary factor that drives the growth of the pest control market. In addition, constant changes in climatic conditions are expected to lead to increase in pests; thereby, hampering yields of staple crops such as wheat, soybeans, and corn. While warmer temperatures create longer growing seasons and faster growth rates for plants, it simultaneously increases the metabolic rate and number of breeding cycles of insects. Insects that previously had only two breeding cycles per year, gain an addi.”
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The insects segment contributed to nearly two-fifths of the global pest control market revenue in 2019, and is anticipated to lead the trail by 2027, due to rise in the number of insects in residential as well as commercial set ups. Simultaneously, the rodents segment would exhibit the fastest CAGR of 6.6% during the forecast period, owing to increasing problems issued out of damaged crops because of rodents.
North America, held the major share in 2019, generating nearly half of the global pest control market, due to development in farming equipment, contemporary communication tools, and shifting consumer trend. At the same time, the market across Asia-Pacific would manifest the fastest CAGR of 7.9% by 2027, owing to various developmental strategies followed by the key-players in the region.
The key market players analyzed in the global pest control market report include Anticimex, BASF SE, Bayer AG, Cleankill Pest Control, Dodson Pest Control Inc., Eastern Pest Control, Eco Environmental Services Ltd., Ecolab, FMC Corporation, JG Pest Control, Lindsey Pest Services, NBC Environment, Rentokil Initial plc, Rollins Inc., Syngenta, and The Service Master Global Holdings Inc.
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